California Code, Government Code - GOV § 27007

The treasurer shall keep all money belonging to the State, or any county of the State in his own possession until disbursed according to law.  He shall not place the money in the possession of any person to be used for any purpose, nor shall he loan or in any manner use, or permit any person to use it, except as provided by law.  This section does not prohibit him from making special deposits for the safe-keeping of public money, but he is liable therefore on his official bond.